Madrid: A Room with a View/ Hostal Americano

Hello.

I was wondering if anyone has any opinion on Hostal Americano in Sol. It seems to have an ideal location, the view is impressive (very important), and I heard Jorge Luis Borges lived there for a short bit (a historic plus). But it's not listed on the MadridMan hostal list. If not recommended, do you have any suggestions for other lodging-with-a-view?

Also, HOW important is air conditioning in May?

Thanks.